RALEIGH … The leaves are just beginning to change color across the Southeast, but already there’s very little green to be seen among technology startups looking for venture funding.
As we head into the late stages of October, there have been just two venture deals completed in the region, including Netifice Communications raising an $8 million fourth round last week. Sources say that a couple more deals may be done before November, but even that would put the monthly total at a paltry four.
Ninety-eight tech firms in the Southeast have raised about $798 million in venture funding so far this year. Here’s a look at LocalTechWire’s exclusive list of deals in the region, ranked according to the size of the investment:
Company; Industry; Amount (Round)
1. Movaz Networks, Norcross, Ga.; Telecom; $60 million (3rd)
Investors: Oak Investment Partners (lead), Anschutz Investments, GATX Ventures, Menlo Ventures, Meritech Capital Partners, Silicon Valley BancVentures, Telus Ventures and Worldview Technology Partners
2. Inhibitex, Atlanta; Biotech; $45.4 million (4th)
Investors: Essex Woodlands Health Ventures (co-lead), New Enterprise Associates (co-lead), Alliance Technology Ventures, CDP Sofinov, Pacific Horizon Ventures and William Blair Capital Partners
3. Fleetcor Technologies, Atlanta; IT services; $45 million (2nd)
Investors: Summit Partners
3. Hatteras Networks, Durham; Telecom; $45 million (3rd)
Investors: Grotech Capital Group (lead), Bessemer Venture Partners, Columbia Capital and ComVentures
5. Scynexis, Durham; Pharmaceutical services; $29 million (3rd)
Investors: Alta Partners (lead), Burrill & Co., CDC Innovation Partners, Genavent, KBL Healthcare Ventures, SG Asset Management, SR One and Ventech
6. Pathfire, Roswell, Ga.; Software; $27 million (5th)
Investors: AT&T Ventures, Bank of America Capital Investors, CNN News Group, Halpern Denny & Co., Institutional Venture Partners, Kinetic Ventures, Monarch Capital Partners, Noro-Moseley Partners, Quadrangle Group, Reuters Greenhouse Fund, Riggs Capital Partners and US Venture Partners
7. Wave 7 Optics, Alpharetta, Ga.; Telecom; $23 million (2nd)
Investors: ATV Capital (lead), Armada Ventures, Lucent Venture Partners, Mellon Ventures and Morganthaler Ventures
8. Nobex, Durham; Biotech; $22.5 million (6th)
Investors: AEA Investors (lead), HealthCap and unidentified Taiwanese venture funds
9. BioStratum, Durham; Biotech; $20 million (3rd)
Investors: BankInvest, Equity Resources Group, HealthCap and MP Bio
10. Servigistics, Atlanta; Software; $18 million (3rd)
Investors: Bain Capital Ventures (lead), Cordova Intellimedia Ventures, Encubate Technology Ventures, Robinson-Humphrey Netlanta Fund, SSM Ventures, Symphony Technology Group and UPS Strategic Enterprise Fund
11. Wave 7 Optics, Alpharetta, Ga.; Telecom; $15.5 million (3rd)
Investors: Oak Investment Partners (lead), Advanced Technology Ventures, Armada Venture Partners, Lucent Venture Partners, Mellon Ventures and Morgenthaler Ventures
12. Greenway Medical Technologies, Carrollton, Ga.; Software; $15 million (3rd)
Investors: Individuals
12. Serenex, Durham; Biotech; $15 million (2nd)
Investors: Intersouth Partners (lead), Lilly BioVentures, Mediphase Venture Partners and Seaflower Ventures
12. Overture Networks, Research Triangle Park, N.C.; Telecom; $15 million (2nd)
Investors: Morganthaler Ventures (lead), Armada Ventures, Atlantis Group, Charlotte Angel Partners, Gray Ventures, Intersouth Partners and Tri-State Investment Group
15. Proxima Therapeutics, Alpharetta, Ga.; Medical devices; $14 million (5th)
Investors: Montagu Newhall Associates (lead), Boston Scientific, Catalyst Ventures, Domain Associates, Hillman Medical Ventures, Lovett Miller & Co., Merrill Lynch Ventures, New Enterprise Associates and Pilgrim Baxter Hybrid Partners
16. Norak Biosciences, Research Triangle Park, N.C.; Biotech; $13 million (2nd)
Investors: Noro-Moseley Partners (lead), Alexandria Real Estate Equities, Aurora Funds, Intersouth Partners, Koch Ventures and Mitsui & Co. Venture Partners
17. Skylight Financial, Atlanta; Internet; $12.8 million (2nd)
Investors: GTCR Golder Rauner (lead), Walnut Investment Partners and individuals
18. LVL7 Systems, Cary, N.C.; Software; $12.5 million (2nd)
Investors: Gabriel Venture Partners (co-lead), H.I.G. Ventures (co-lead), Accton Technology and individuals
19. V3 Systems, Charlotte; Software; $11.5 million (1st)
Investors: Sterling Venture Partners (lead), Draper Atlantic Management, SpaceVest and Updata Venture Partners
20. INC Research, Raleigh; Pharmaceutical services; $11 million (NA)
Investors: Crosspoint Venture Partners (lead)
20. GlobalCare, Alpharetta, Ga.; Internet; $11 million (1st)
Investors: Insight Venture Partners (lead), C&B Capital and THK Private Equities
22. N2 Broadband, Duluth, Ga.; IT services; $10 million (2nd)
Investors: Highland Capital Partners (lead) and AOL Time Warner Ventures
22. HiddenMind Technology, Cary, N.C.; Software; $10 million (4th)
Investors: JLT Group
22. Velant, Atlanta; IT services; $10 million (2nd)
Investors: 3i and Matrix Partners
25. Magnet Communications, Atlanta; Internet; $9.4 million (4th)
Investors: Conning Capital Partners and Total Technology Ventures
26. Peak 10, Charlotte; IT services; $9.2 million (3rd)
Investors: Frontier Capital and Seaport Capital
27. Proficient Systems, Atlanta; Software; $9 million (2nd)
Investors: GIMV (lead), Fuqua Ventures, Kinetic Ventures, Labrador Ventures and individuals
28. MediaSpan, Durham; Media; $8.5 million (1st)
Investors: Covestco-Seteura, Rustic Canyon Group, Southeast Interactive Technology Funds
28. Fast-Talk Communications, Atlanta; IT services; $8.5 million (2nd)
Investors: Boston Millennia Partners (lead), Atlanta Technology Angels, Cordova Ventures, HIG Ventures and SAIC Venture Capital
30. GenPhar, Mount Pleasant, S.C.; Biotech; $8 million (1st)
Investors: Individuals
30. Digiquant, Atlanta; IT services; $8 million (3rd)
Investors: General Atlantic Partners (lead), Cisco Systems, Index Ventures, Vertex Management and individuals
30. Pinpoint Networks, Cary; Software; $8 million (2nd)
Investors: Massey Burch Capital (lead), Atlantis Group, Noro-Moseley Partners, Tri-State Investment Group and Wakefield Group
30. Netifice Communications, Atlanta; Telecom; $8 million (4th)
Investors: Boston Millennia Partners, Columbia Capital, Dolphin Communications Partners and H.I.G. Capital
34. NetOctave, Morrisville, N.C.; IT services; $7.8 million (2nd)
Investors: Intersouth Partners (lead), Intel Communications Fund, Kitty Hawk Capital, MCNC, North Carolina Enterprise Fund and Wakefield Group
35. Flamenco Networks, Atlanta; Telecom; $7.4 million (2nd)
Investors: Flagship Ventures (lead), Cordova Ventures and Noro-Moseley Partners
36. iOnosphere, Greenville, S.C.; Telecom; $7 million (2nd)
Investors: Pharos Capital (lead) and Trelys Venture Partners
36. Zoom Culture, Chapel Hill, N.C.; Media; $7 million (2nd)
Investors: Chrysalis Ventures (lead), Atlantis Group, Charlotte Angel Partners, Cordova Ventures, Intersouth Partners and Tri-State Investment Group.
38. Netifice Communications, Atlanta; Telecom; $6.5 million (3rd)
Investors: Boston Millennia Partners, Columbia Capital and HIG Ventures
38. TEAMM Pharmaceuticals, Morrisville, N.C.; Pharmaceuticals; $6.5 million (2nd)
Investors: Harbert Management (lead) and individuals
40. Cropsolution, Morrisville, N.C.; Biotech; $6.4 million (1st)
Investors: Aurora Funds (lead), ATP Capital, Atlantis Group, Charlotte Angel Partners and Research Triangle Ventures
41. HAHT Commerce, Raleigh; Software; $6 million (2nd)
Investors: Canaan Partners
41. iReadyWorld, Charlotte; IT services; $6 million (3rd)
Investors: Total Technology Ventures (lead), Greenspring Ventures and Red Badge Ventures
43. ChannelAdvisor, Morrisville, N.C.; Software; $5.7 million (2nd)
Investors: Genesis Venture Partners (lead), eBay, Southern Capitol Ventures, The Atlantis Group and Tri-State Investment Group
44. Lancope, Alpharetta, Ga.; Software; $5.55 million (1st)
Investors: GMG Capital Partners and HIG Capital
45. EG Technology, Atlanta; Telecom; $5.5 million (1st)
Investors: Noro-Moseley Partners (lead), Gray Ventures, HIG Ventures and Yamacraw Seed Capital
46. KnowledgeStorm, Alpharetta, Ga.; IT services; $5.25 million (2nd)
Investors: Sterling Venture Partners (lead), Apex Venture Partners, Imlay Investments, Live Oak Equity Partners and Total Technology Ventures
47. Datatrac, Atlanta; Software; $5 million (NA)
Investors: Megunticook Fund
47. MedCenterDirect.com, Atlanta; Internet; $5 million (4th)
Investors: Healthsouth, UBS Warburg
47. SiteScape, Wilmington, N.C.; IT services; $5 million (2nd)
Investors: Echelon Ventures, SAIC Venture Capital
47. CipherOptics, Raleigh; IT services; $5 million (1st)
Investors: Kodiak Venture Partners
47. eCompanyStore, Atlanta; Internet; $5 million (NA)
Investors: ITC Holdings
47. Oculan, Raleigh; IT services; $5 million (3rd)
Investors: Soros Private Equity Partners
47. FormScape, Morrisville, N.C.; Software; $5 million (2nd)
Investors: MTI Partners
54. Trinity Convergence, Raleigh; Telecom; $4.5 million (2nd)
Investors: Core Capital Partners, Intersouth Partners and Mid-Atlantic Venture Funds
54. Relativity Technologies, Cary, N.C.; Software; $4.5 million (3rd)
Investors: Intel Capital, Nichimen, Noro-Moseley Partners, Wakefield Group and individuals
56. VistaScape Technology, Atlanta; Software; $4.1 million (3rd)
Investors: Visionaria Venture Capital (lead), CDP Capital and individuals
57. AppGate, Durham; IT services; $4 million (3rd)
Investors: ABN Amro (co-lead), GE Equity (co-lead), Bure Equity, Industrifinans, Innovationskapital and Pythagoras
57. LastMinuteTravel.com, Atlanta; Internet; $4 million (NA)
Investors: Individuals
57. EZ Prints, Atlanta; Internet; $4 million (4th)
Investors: PA Early Stage Partners and The Cairnwood Group
57. ParinGenix, Charlotte; Biotech; $4 million (1st)
Investors: Academy Funds, A.P. Kennedy Family Securities and Research Corporation Technologies
57. Encelle, Raleigh; Biotech; $4 million (4th)
Investors: Intersouth Partners, Koerner Capital and North Carolina Enterprise Fund
62. Ziptronix, Research Triangle Park, N.C.; Hardware; $3.5 million (2nd)
Investors: Alliance Technology Ventures, Research Triangle Ventures, RTI International and Xilinx
63. DarPharma, Chapel Hill, N.C.; Biotech; $3.2 million (1st)
Investors: Stanley Foundation and individuals
64. Trinity Convergence, Raleigh; Telecom; $3.1 million (1st)
Investors: Core Capital Partners, Intersouth Partners, Mid-Atlantic Venture Funds
65. ConstructWare, Alpharetta, Ga.; Software; $3 million (3rd)
Investors: Cordova Ventures, Live Oak Equity Partners and Smith Harbor Ventures
65. MDdatacor, Alpharetta, Ga.; IT services; $3 million (2nd)
Investors: Dianon Systems and individuals
65. Total Billings, Fayetteville, N.C.; Software; $3 million (2nd)
Investors: Dogwood Equity and Frontier Capital
68. LiveWire Logic, Morrisville, N.C.; IT services; $2.8 million (2nd)
Investors: Gray Ventures (lead), A.M. Pappas & Associates, The Atlantis Group, Charlotte Angel Partners, Research Triangle Ventures, Tri-State Investment Group, truePilot and individuals
69. nTouch Research, Raleigh; Pharmaceutical services; $2.6 million (3rd)
Investors: Canaan Partners (co-lead), Intersouth Partners (co-lead), Bioventures and Tri-State Investment Group
70. Waveguide Solutions, Charlotte; Semiconductors; $2.5 million (2nd)
Investors: Academy Venture Funds and Southeast Interactive Technology Funds
70. BancIntelligence.com, Atlanta; Internet; $2.5 million (1st)
Investors: Imlay Investments and individuals
70. Firstdoor, Atlanta; Software; $2.5 million (5th)
Investors: Allen & Co. and individuals
70. Zoom Culture, Chapel Hill, N.C.; Media; $2.5 million (3rd)
Investors: Chrysalis Ventures, Cordova Ventures and Intersouth Partners
74. Procuri, Atlanta; Internet; $2 million (2nd)
Investors: Individuals
74. Vocalocity, Atlanta; Software; $2 million (1st)
Investors: Atlanta Technology Angels, Five Paces Ventures, Imlay Investments and Yamacraw Seed Fund
76. Kucera Pharmaceuticals, Winston-Salem, N.C.; Biotech; $1.9 million (1st)
Investors: Academy Funds, Piedmont Angel Network and individuals
77. 180Commerce, Atlanta; Software; $1.8 million (3rd)
Investors: Armada Venture Group and Imlay Investments
78. AvidXchange, Charlotte; Software; $1.75 million (2nd)
Investors: CT Communications (lead), Charlotte Angel Partners and individuals
79. Somatocor, Atlanta; Biotech; $1.7 million (seed)
Investors: Alliance Technology Ventures
80. epipeline, Atlanta; Internet; $1.5 million (3rd)
Investors: Crossbow Ventures
80. Gentris, Morrisville, N.C.; Biotech; $1.5 million (1st)
Investors: Exelixis, Research Triangle Ventures and individuals
80. ExchangeBlvd.com, Atlanta; Internet; $1.5 million (3rd)
Investors: Stephens
80. BioResource International, Raleigh; Biotech; $1.5 million (1st)
Investors: Chinese venture firm and individuals
80. FlexLight Networks, Atlanta; Telecom; $1.5 million (2nd)
Investors: Israeli Ministry of Trade
85. Fortel DTV, Duluth, Ga.; IT services; $1 million (NA)
Investors: Individuals
85. ChemCodes, Durham; Biotech; $1 million (2nd)
Investors: Emerging Technology Partners
85. MindValve, Charlotte; Software; $1 million (Seed)
Investors: Academy Venture Funds
85. KevSoft, Alpharetta, Ga.; Software; $1 million (1st)
Investors: Southeastern Technology Fund
85. Seventh Wave Technology, Atlanta; IT services; $1 million (3rd)
Investors: Southeastern Technology Fund (lead), Jemison Investment Co., Miller Investments and Richgood Corp.
90. Bandwidth.com, Durham; Telecom; $500,000 (1st)
Investors: Individuals
90. Network Genomics, Atlanta; Software; $500,000 (NA)
Investors: Individuals
90. Ryla Teleservices; IT services; $500,000 (1st)
Investors: Sustainable Jobs Fund
90. Applied Systems Intelligence, Roswell, Ga.; Software; $500,000 (2nd)
Investors: Indi
